When individual media and entertainment stocks such as Beijing Yuanlong Yato Culture Dissemination Co.Ltd(002878) , Guangdong Advertising Group Co.Ltd(002400) made great progress, the leader of film and television copyright operation Beijing Jetsen Technology Co.Ltd(300182) made a big move on the evening of February 13.
According to the announcement of Beijing Jetsen Technology Co.Ltd(300182) , Xinjiang Huaxiu, the holding Sun company, recently signed a film and television program authorization contract with Tencent, with a contract amount of 1.8 billion yuan, accounting for 56.54% of its revenue in 2020. Hand in hand with Tencent is still such a large contract. As soon as the announcement is made, it will explode. Many netizens expect the 20cm limit, while some regret selling early.
However, such a major contract Beijing Jetsen Technology Co.Ltd(300182) did not announce the specific signing time. On January 17, the company received two 20cm trading limits. Jin Jun noted that the company just changed its chief financial officer in November last year, followed by the replacement of an accounting firm hired for only more than half a year in December. Similarly, in December, the company and relevant directors, supervisors and senior executives were punished by Beijing Securities Regulatory Bureau for the occupation of funds of related parties, non-standard financial treatment and inaccurate performance forecast.
the contract amount accounts for more than 50% of the revenue in 2020
According to the announcement, Xinjiang Huaxiu is the holding subsidiary of Jiecheng Huashi netju, a holding subsidiary of Beijing Jetsen Technology Co.Ltd(300182) . Xinjiang Huaxiu recently signed a film and television program authorization contract with Tencent, with a contract amount of 1.8 billion yuan, accounting for 56.54% of the audited operating revenue in 2020, which has exceeded 50% of the audited main business revenue of the company in the latest fiscal year.
According to the contract, Tencent enjoys the information network communication right of no less than 6332 film and television programs such as “golden age” within the scope agreed in the contract.
The company said that the signing of this contract “further deepened the cooperative relationship between the company and Tencent on the basis of the original good cooperation, expanded the good market influence for the company and improved the profitability of the company”. According to the announcement, Tencent has always been a major customer of the company, and its operating revenue from 2019 to 2021 also reached 729 million yuan, 372 million yuan and 450 million yuan respectively, accounting for 25%, 15% and 15% of the annual revenue respectively.
However, this contract is not a “certainty”, and the announcements emphasize risks in many places, “Although the contract has made clear provisions on the rights and obligations of all parties, liabilities for breach of contract and dispute resolution methods, there are risks affected by unpredictable or force majeure factors such as industrial policies, China’s economy and market environment in the performance process, which may lead to the failure to perform the contract on schedule or in full.”.
nearly 70000 investors hi
the specific date of signing the contract is not disclosed
In addition, the fund Jun noted that this major contract with a revenue accounting for more than 50% did not disclose the specific signing time, but used the vague expression of “recently”.
According to the measures for the administration of information disclosure of listed companies issued by the CSRC, “the information disclosure obligor shall timely perform the obligation of information disclosure in accordance with the law, and the information disclosed shall be true, accurate, complete, concise, clear and easy to understand, without false records, misleading statements or major omissions”. The “timely” mentioned in the Measures refers to the two trading days from the starting date or the time point of disclosure.
On January 14 and January 17, less than 20 trading days ahead, there was a change in the company’s share price. At that time, the company closed the 20cm limit for two consecutive trading days, with a cumulative increase of 44%. At that time, the Shenzhen Stock Exchange also issued a letter of concern. The company said in the announcement of abnormal fluctuation of share price that “at present, the company does not have any matters that should be disclosed but not disclosed according to relevant provisions such as the Listing Rules of gem shares of Shenzhen Stock Exchange, or planning, negotiation, intention and agreement related to such matters”.
Nevertheless, nearly 70000 shareholders are still hi. Some netizens said that “20cm long legs”, “the number of contracts is not important, mainly because they signed a contract with Tencent”, “they didn’t buy on Friday and lost a lot” and “it should be solved now”.
According to Dongcai data, as of January 10, 2022, Beijing Jetsen Technology Co.Ltd(300182) the latest number of shareholders was 69000.
just replaced the financial director and accounting office
has just been punished for occupying funds by related parties
On November 22, 2021, Beijing Jetsen Technology Co.Ltd(300182) announced that the board of directors received the written resignation report submitted by Ms. Zhang Wenju, the director and chief financial officer of the company. Ms. Zhang Wenju resigned as chief financial officer of the company for personal reasons, and her resignation report shall take effect from the date of reaching the board of directors.
On December 29, more than a month later, the company announced the change of the accounting firm it had cooperated with for five years. The company said that “the contract term with Tianheng expires” and “in order to better ensure the independence, objectivity and fairness of the audit work, and comprehensively consider the company’s business development and future audit service needs, it is proposed to appoint ZTE caiguanghua as the company’s audit institution in 2021”. At the annual general meeting of shareholders on May 20, 2021, Tianheng office has just been reappointed as the company’s 2021 audit institution.
Due to problems in accounting quality and other aspects, Beijing Jetsen Technology Co.Ltd(300182) has been punished by the CSRC for the first time in recent five years.
According to the punishment decision of Beijing Securities Regulatory Bureau, from the end of 2018 to March 2019, Xu Ziquan, the controlling shareholder of the company, engaged in non operational occupation of the funds of listed companies, with a cumulative occupation amount of 74 million yuan. The above capital occupation matters did not fulfill the approval procedures and information disclosure obligations in accordance with relevant regulations.
In addition, part of the company’s financial treatment is not standardized, including some capital business is not subject to accounting treatment and disclosure according to the essence of the business; Some film and television investment projects have not received real payment; Some intangible assets are not recognized in time; The accounting of individual film and television drama production projects is not accurate
Appropriate; Improper inventory accounting of individual projects, inaccurate presentation of advance payment for copyright, etc.
Finally, compared with the audited net profit disclosed in the annual report, the amount of the estimated net profit disclosed in the performance forecast of Beijing Jetsen Technology Co.Ltd(300182) is quite different and has not been corrected in time. On January 29, 2021, Beijing Jetsen Technology Co.Ltd(300182) disclosed the performance forecast for 2020. It is estimated that the net profit attributable to the shareholders of the listed company in 2020 will be a loss of 330 million yuan to 480 million yuan, but the actual net profit disclosed in the 2020 annual report is a loss of 1.23 billion yuan.
Therefore, Beijing Jetsen Technology Co.Ltd(300182) , Xu Ziquan, the controlling shareholder of the company, Chen Tonggang, the then general manager, and Zhang Wenju, the then chief financial officer, were ordered to make corrections by the Beijing Securities Regulatory Bureau and included in the integrity archives of the securities and futures market. Prior to this, on November 19, 2021, Beijing Jetsen Technology Co.Ltd(300182) and the above responsible persons were also punished by the Shenzhen Stock Exchange by circulating a notice of criticism.
On January 25, 2022, Beijing Jetsen Technology Co.Ltd(300182) released the performance forecast for 2021. It is estimated that the profit in 2021 will be 450 million to 480 million yuan, and the advance profit after deducting non recurring profits and losses will be 340 million to 380 million yuan. The company recorded huge losses in the previous two years, including a loss of 2.382 billion yuan in 2019 and 1.23 billion yuan in 2020, with a total loss of more than 3.6 billion yuan in the two years, mainly due to large “credit impairment loss” and “asset impairment loss”.
